Prospex Energy

PXEN · AIM · Energy · mcap £26m · 5.9p 2 open situations →

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2026 Selva Malvezzi development wells and 3D CEO succession 1 director buying

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Project milestones◷ in 67 days

Selva Malvezzi development wells and 3D

Licences held; Mniszow development planning

Prospex was awarded the San and Dunajec licences, which PXEN Tatra accepted. Work continued on historical data and well design for the Mniszow oil discovery. The 28 Sep 2026 H1 report says a mid-September site visit took place, a Mniszow development presentation was released and an independent resource review is planned for Q4 2026.

Funding: Cash on hand to fund licences and early prospectivity assessment 15 May 2026 ↗
Next milestone: Independent resource review in Q4 2026 28 Sep 2026 ↗
Permit fees: £177k of new permit fees paid in Q2 2026 3 Aug 2026 ↗
Mniszów oil: Company view of 3.7 mmbbl recoverable 3 Aug 2026 ↗
Focus: Well and completion design for Mniszów oil discovery on Dunajec licence 7 Sep 2026 ↗
Site visit: San and Dunajec licence areas, mid-September 2026 28 Sep 2026 ↗

Next: Independent review of Mniszow resource · 31 Dec 2026

28 Sep 2026 2027 development planning continues
7 Sep 2026 2027 development planning continues
3 Aug 2026 Dynamic model built; development scenarios defined
15 May 2026 3D seismic processing under way

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New CEO / reset

CEO succession

New CEO's strategy being implemented

Tom Reynolds replaced Mark Routh as CEO (announced 6 Jan 2026) and launched a portfolio review. The 28 Sep 2026 H1 report says each asset now has a value development pathway. The key focus for the rest of 2026 is to maximise cash flow and engage partnership investment.

Cost review: Extensive review of cost base with active measures to minimise costs 3 Aug 2026 ↗
Board: Simon Ashby-Rudd appointed NED in May 2026 28 Sep 2026 ↗
Partner outreach: Full potential models built to support talks with prospective partners and investors 3 Aug 2026 ↗
Next milestone: Investor Meet Company presentation on Poland, 21 September 2026 7 Sep 2026 ↗
Priority: Maximise net cash flow; seek partnership investment 28 Sep 2026 ↗
Record revenue: Record gross monthly revenue of €795.8k 7 Sep 2026 ↗

Next: Secure partner funding for 2027 programme

28 Sep 2026 New CEO's strategy being implemented
7 Sep 2026 Partner search for the rest of 2026
3 Aug 2026 Cost review done; seeking partners and investors
15 May 2026 Reynolds now CEO; reassessing portfolio

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Closed · 1

Insider conviction1 director buying £41k in 2 buys · 5 Jun 2026 – 23 Sep 2026 +52%

Company filings. Not investment advice.